BUSINESS China's pork prices continue to retreat


China's pork prices continue to retreat


13:07, December 03, 2019

BEIJING, Dec. 3 (Xinhua) -- Soaring pork prices in China continued to soften last week as the country rolled out multiple measures to stabilize hog production.


Photo: VCG

From Nov. 25 to 29, the average pork price index in 16 provincial-level regions tracked by the Ministry of Agriculture and Rural Affairs came in at 40.95 yuan (about 5.8 U.S. dollars) per kg, down 3.5 percent week on week.

This is the third consecutive week that the pork price index has retreated since the beginning of November.

The price retreat came as the Chinese government has been taking multi-pronged measures to boost supply, including increasing subsidies to restore hog production, releasing frozen pork reserves and expanding pork imports.

The ministry urged related departments to put great emphasis on restoring hog production and take various measures to ensure pork supply and stabilize pork prices for the coming New Year and Spring Festival holidays.

Prices of pork, a staple meat in China, have been soaring in recent months, mainly affected by African swine fever and cyclical factors.

China's consumer price index (CPI), a main gauge of inflation, rose 3.8 percent year on year last month, mainly driven by soaring pork prices, which rose 101.3 percent year on year in October, contributing nearly two-thirds of the CPI growth.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue